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Pharoah Company is issuing eight$-$year bonds with a coupon rate of $5\mathrm{.}5$ percent and semiannual coupon payments. If the current market rate for similar bonds is $11$ percent. Assume face value is $$1,000.$

What will the bond price be$?($Round intermediate calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25145$ and bond price to $2$ decimal places, e$.$g$.15\mathrm{.}25.)$

Bond price

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If company management wants to raise $$1\mathrm{.}25$ million, how many bonds does the firm have to sell? $($Round intermediate calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25145$ and number of bonds to $0$ decimal places, e$.$g$.5,275.)$

Number of bonds

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